Is the set of firms that facilitate the movement of goods from producers to consumers?
The distribution channel is the set of firms that facilitate the movement of goods from producers to consumers.
A distribution channel is what?A distribution channel is a network of firms or middlemen that a commodity or service travels through before reaching the final consumer or buyer. Wholesalers, merchants, distributors, and even the internet are examples of distribution channels.
The downstream process, which addresses the issue of "How do we get our product to the consumer," includes distribution networks. Contrarily, the upstream process, commonly known as the supply chain, offers a response to the question, "Who are our suppliers?
What Exactly Is a Distribution Channel, and What Elements Does It Comprise?
The phrase "distribution channel" describes the techniques a business employs to get its goods or services to the final customer. A network of middlemen companies, including producers, distributors, and retailers, is frequently involved. Management of supply chains involves choosing and keeping an eye on distribution channels.
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a ux designer is creating a customer support site in experience builder that will be internationalized across 12 different countries. which two design considerations should be made when planning for this site?
When creating a customer support site in Experience Builder that is to be internationalized across 12 different countries, two design considerations should be made language and User Interface.
1. Language: Design considerations for language should be made to ensure that the content is presented in a way that will be understandable and relatable to a wide range of people. This may include the use of simple language, translation services, and the use of culturally sensitive content.
2. User Interface (UI): The user interface (UI) is the front end of the website, and it should be designed to be user-friendly, responsive, and easy to navigate. This should include clear labeling and easy-to-use navigation menus, as well as the use of icons and other graphical elements that are recognizable and understandable across different cultures.
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42 1. Briefly discuss special factors associated with the following areas of multinational working capital management: 43 (1) Cash management 2) Credit management (3) Inventory management
Multinational working capital management involves the effective management of a firm's assets, liabilities, and working capital across various countries and currencies.
Multinational corporations need to pay close attention to their cash, credit, and inventory management to ensure optimal performance. This article will briefly discuss the special factors associated with inventory management. Inventory management refers to the process of controlling a firm's inventory levels to ensure that sufficient inventory is available to meet demand, while also minimizing holding costs.
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standardization of work and wage incentives are characteristics of:
Standardization of work and wage incentives are characteristics of scientific management. Standardization of work involves breaking down complex tasks into smaller, simpler tasks that can be performed by individual workers.
Standardization of work and wage incentives are two key principles of scientific management, which is a management approach developed by Frederick Winslow Taylor in the early 20th century. This approach emphasizes the use of scientific methods to analyze and improve work processes and productivity, including the standardization of work procedures and the implementation of wage incentives to motivate workers to increase their output.
This allows workers to specialize in a particular task and become more efficient at it, which increases overall productivity. Standardization also involves developing procedures and guidelines for performing tasks that are consistent across the organization. This helps to ensure that work is done in a consistent and efficient manner, regardless of who is performing it.
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Tony, Juan, and Isabel live in a city where the combined state and local sales tax rate is 8%. They each purchased the same computer and paid $160 in sales tax. A 5-column table has 3 rows. The first column has entries Tony, Juan, Isabel. The second column is labeled Income with entries 10,000, 50,000, 75,000. The third column is labeled Cost of computer with entries 2,000, 2,000, 2,000. The fourth column is labeled Sales tax paid with entries 160, 160, 160. The fifth column is labeled tax rate with entries 1.6 percent, 0.32 percent, and 0.21 percent. This scenario describes a tax system. Isabel pays Tony and Juan on the computer. pays the highest tax rate on the computer. would be the most affected by an increase in the sales tax rate.
Answer:
Tony pays the highest tax rate on the computer, not based on the nominal sales tax rate, but on the percentage that the tax represents of his total income.
His income is $10,000, and he pays $160 in sales tax, for an effective rate of 1.6%.
The person who would be the most affected by an increase in the sales tax rate is again, Tony, simply because he has the lowest income. Juan and Isabel would also be affected by a sales tax increase, but on a much lower scale (because their incomes are also a lot larger).
a) The scenario described by the 5-column table with 3 rows showed that Tony paid the highest tax rate (effective) on the computer, based on his income level.
b) Tony would be the most affected by an increase in the sales tax rate because his effective tax rate would increase, causing him to suffer the most.
What is a sales tax?A sales tax is a proportional tax that charges the same percentage on the consumption of goods and services without considering a person's income level.
Data and Calculations:Tax Payer Income Cost of Computer Sales Tax Paid Tax Rate
Tony $10,000 $2,000 $160 1.6%
Juan 50,000 2,000 160 0.32%
Isabel 75,000 2,000 160 0.21% ($160/$75,000 x 100)
Thus, this scenario of a tax system illustrates that sales tax is not progressive, but it is proportional since it is based on consumption and not income level.
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Omar and Patrick sell magazine subscriptions by telephone. Omar is paid $1.00 for every 5 calls he makes, while Patrick is paid $1.00 for every subscription he sells. Omar is paid on a __________ schedule while Patrick is paid on a __________ schedule.
This means that Omar is paid on a fixed ratio schedule while Patrick is paid on a variable ratio schedule.
What are fixed ratio and variable ratio?Fixed Ratio refers to a reinforcement schedule, which make use of reinforcement after the completion of number of responses. This means that each time a response is received, there is reward for each of the completed task.
For Variable ratio, there are unpredictable responses even when the responses have been reinforced. Each time a person performs a behaviour, the reinforcement is not distributed.
Hence, Omar is paid on a fixed ratio schedule while Patrick is paid on a variable ratio schedule.
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Net present value. Lepton Industries has a project with the following projected cash flows Initial cost: $468,000 Cash flow year one: $135,000 Cash flow year two: $240,000 Cash flow year three: $185,000 Cash flow year four: $135,000 a. Using a discount rate of 8% for this project and the NPV model, determine whether the company should accept or reject this project. b. Should the company accept or reject it using a discount rate of 14%? C. Should the company accept or reject it using a discount rate of 20%? a. Using a discount rate of 8%, this project should be (Select from the drop-down menu.)
To determine whether Lepton Industries should accept or reject the project, we can calculate the net present value (NPV) using different discount rates. The projected cash flows for the project are as follows: initial cost of $468,000, cash flows of $135,000 in year one, $240,000 in year two, $185,000 in year three, and $135,000 in year four. We will evaluate the acceptability of the project at discount rates of 8%, 14%, and 20%.
To calculate the NPV, we discount each cash flow to its present value and subtract the initial cost. The formula for NPV is as follows:
NPV = CF1 / (1 + r) + CF2 / (1 + r)^2 + CF3 / (1 + r)^3 + CF4 / (1 + r)^4 - Initial Cost
Using the given cash flows and discount rate, we can calculate the NPV for each scenario.
a. At a discount rate of 8%, calculate the NPV by substituting the values into the formula. If the NPV is positive, the project should be accepted; if it's negative, the project should be rejected.
b. Repeat the calculation using a discount rate of 14%.
c. Repeat the calculation using a discount rate of 20%.
Comparing the NPV values for each discount rate will allow us to determine whether the project should be accepted or rejected under different scenarios.
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Duncan is creating records for inventory products in QuickBooks Online. Which field will he fill in that is not used for noninventory products? A quantity on hand B. asset account C. all of these answers D. as of date
The field that Duncan will fill in for inventory products in QuickBooks Online that is not used for non-inventory products is: A. Quantity on Hand
The quantity on hand field is specific to inventory products as it keeps track of the quantity of each inventory item that is currently available in stock. This field is not relevant for non-inventory products as they are not tracked based on quantity levels.
In contrast, asset account, as of date, and other fields are applicable to both inventory and non-inventory products. The asset account field is used to assign the appropriate asset account for tracking the value of inventory items. The as of date field represents the specific date at which the inventory information is being recorded.
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Please Name the 3 main credit bureaus and explain what information they collect.
The three main credit bureaus are Equifax, Experian, and TransUnion.
They collect and maintain information on individuals' credit history, including credit accounts, payment history, credit limits, and outstanding balances.
They also gather personal information such as name, address, date of birth, and social security number. This information is used to calculate credit scores, which lenders use to determine creditworthiness.
Credit bureaus also collect public records such as bankruptcies, liens, and judgments that can negatively impact credit scores. It is important for individuals to regularly review their credit reports from each bureau to ensure accuracy and dispute any errors.
Therefore, this can help improve credit scores and increase the likelihood of being approved for credit in the future.
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What is a business opportunity?
Answer:
a packaged business investment that allows the buyer to begin a business.
Explanation:
assuming a market rate risk of 8 percent and a return on treasury bills of 4 percent, what would the total estimate of the required rate of return be for a stock with a beta of 1.7?
To calculate the total estimate of the required rate of return for a stock with a beta of 1.7, we need to use the Capital Asset Pricing Model (CAPM) formula, total estimate of the required rate of return for a stock with a beta of 1.7 is 10.8 percent.
The formula for CAPM is: Required Rate of Return = Risk-Free Rate + Beta x (Market Rate of Return - Risk-Free Rate) In this case, the risk-free rate of return is given as 4 percent (the return on treasury bills), and the market rate risk is 8 percent. The beta of the stock is 1.7.
So, using the formula, we get: Required Rate of Return = 4% + 1.7 x (8% - 4%), Required Rate of Return = 4% + 1.7 x 4%
Required Rate of Return = 4% + 6.8%, Required Rate of Return = 10.8%. Therefore, the total estimate of the required rate of return for a stock with a beta of 1.7 is 10.8 percent.
In other words, investors would expect a return of at least 10.8 percent on this stock to compensate for the risk of investing in it, given the current market conditions and the risk-free rate of return. This calculation can help investors make informed decisions about whether or not to invest in a particular stock, based on their risk tolerance and investment goals.
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A writer, an illustrator, a publisher and an agent would form a
a. Functional team
b. Cross-functional team
C. Management team
d. Corporate team
Answer:
B. Cross-functional team
Explanation:
A writer, an illustrator, a publisher, and an agent would form a Cross-functional team. The correct option is B.
What are cross-functional skills?A Cross-Functional Candidate, according to Glassdoor, is a candidate with jack-of-all-trades abilities. In other words, a candidate with cross-functional skills is someone who is proficient in one or more related technologies or skills while also being knowledgeable in other technologies or skills.
Working cross-functionally, also referred to as working with teams other than your own, will inevitably occur at some point in your career. And doing it well can inspire innovative ideas, enhance your ability to interact with others, and improve your workplace's culture, productivity, and happiness.
Thus, the ideal selection is option B.
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Which aspect of Darron's career matches his lifestyle but is also in conflict with some of his desires? busyness while at work earning money frequent travel strong competition
Answer:
frequent travel
Explanation:
Since in the question it is mentioned that Darron loves his carrier as it fits with his lifestyle. He knows how to make a money and how to keep busy also he loves travelling plus he wish that he could spend more time with his family members
So here the frequent travel fits in the given situation as he loves travelling so he travel frequently
Therefore the same is considered
Answer:
its travel
Explanation:
Which APC component is a measure of the resource intensity of a particular procedure or service?
a. Payment status indicator
b. Copayment amount
c. Relative weight
d. All of the above
Relative weight.The relative weight is a measure of the resource intensity of a particular procedure or service in the context of the Ambulatory Payment Classification (APC) system.
The APC system is a payment methodology used by Medicare to reimburse outpatient services provided by hospitals and other healthcare facilities.
Each APC category in the system is assigned a relative weight, which represents the resources required to provide the service or procedure compared to a reference procedure. The relative weight takes into account factors such as staff time, equipment, supplies, and other resources necessary to perform the service.
The relative weight is an essential component of the APC system as it determines the payment amount for a specific procedure or service. It is multiplied by a conversion factor to calculate the reimbursement amount for a given service or procedure within a specific APC category.
In contrast, the payment status indicator (a) is a code that indicates how a specific service or procedure is categorized within the APC system, determining whether it is separately payable or packaged with other services. The copayment amount (b) refers to the out-of-pocket payment that a patient may be required to make for a particular service or procedure, based on their insurance plan or program.
Therefore, the correct answer is c. Relative weight, as it specifically measures the resource intensity of a procedure or service within the APC system.
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what is the principle of orientation
in a transitioning economy, why would privatization tend to raise a nation’s overall standard of living?
Option c) people are more likely to be productive when it benefits them personally.
A transition economy is an economy that is evolving from a command economy to a market economy.
Transition economies have undergone a series of structural transformations aimed at developing market-based institutions.
These include economic liberalization where prices are set by market forces rather than by central planning bodies.
It also removes trade barriers, privatizes state-owned enterprises and resources, reorganizes state-owned enterprises and collectively owned enterprises into enterprises, and creates a financial sector that promotes macroeconomic stability and the movement of private capital.
Used in the former Soviet Union and Eastern Bloc countries of Europe, it has also been applied to some Third World countries, with detailed studies of its economic and social impact.
Transitional processes are usually characterized by changes and creation of institutions, especially private companies.
Changing the role of the state, creating radically different state institutions, promoting private enterprise, markets and independent financial institutions
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Complete question:
In a transitioning economy, why would privatization tend to raise a nations overall standard of living?
a) people are less likely to assume the risks of entrepreneurship
b) it places the means of production in the hands of the government
c) people are more likely to be productive when it benefits them personally
d) it places a nations ruling class in a position to administer the economy efficiently
although useful for quick login, fingerprint scanners are too large and expensive to include in the computers and mobile devices used by consumers.
The statement that fingerprint scanners are too large and expensive to include in consumer computers and mobile devices is not entirely accurate. Fingerprint scanners have become increasingly common in consumer devices due to advancements in technology, making them smaller, more affordable, and efficient.
In recent years, fingerprint scanners have become a popular feature in consumer devices such as smartphones and laptops. These scanners provide a convenient and secure method for user authentication and are widely adopted by manufacturers. Technological advancements have led to the development of compact and cost-effective fingerprint scanning solutions. Modern fingerprint scanners utilize capacitive or optical sensors that are small in size and can be integrated into the design of various devices without adding significant bulk.
Furthermore, the increasing demand and competition in the consumer electronics market have driven manufacturers to improve the accessibility and affordability of fingerprint scanning technology. As a result, fingerprint scanners have become a common feature in many smartphones, laptops, and other consumer devices. Therefore, the claim that fingerprint scanners are too large and expensive for consumer computers and mobile devices is outdated, as technological advancements have addressed these limitations, making fingerprint scanners practical and accessible for everyday use.
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Because we are almost always unable to obtain all of the market information we want, we rely on numbers for much of our financial information. True or false?.
Because we are almost always unable to obtain all of the market information we want, we rely on numbers for much of our financial information, is the true statement.
What is meant by market information?All data pertaining to the marketing of any products or services, such as customer names and lists, sales targets, sales figures, market share statistics, marketing surveys and reports, marketing research, and any advertising or other promotional materials, are referred to as “marketing information”;
All participants consider a market information service as providing "transparency," or full awareness of the current market pricing and other important information.
Thus, the statement is true.
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Vincent operates a scenic tour business in Boston. He has one bus which can fit 50 people per tour and each tour lasts 2 hours. His total cost of operating one tour is fixed at $450. Vincent’s cost is not reduced if he runs a tour with a partially full bus. While his cost is the same for all tours, Vincent uses a pricing practice called price discrimination and charges each passenger his/her willingness to pay: adults $18 per trip, children $10 per trip, and senior citizens $12 per trip. At those rates, on a typical day Vincent’s demand is:
Passenger Type
Willingness to Pay
Demand per day
Adults
$18
70
Children
$10
25
Senior Citizens
$12
55
Assume that Vincent’s customers are always available for the tour; therefore, he can fill his bus for each tour as long as there is sufficient total demand for the day.
What is Vincent’s cost of serving all passengers demanding a tour on a typical day?
What is Vincent’s profit on a typical day?
One of Vincent’s friends tells him he would be more profitable if he charged a single price of $18. Assuming no changes in consumer demand, what would Vincent’s profit be if he charged every customer $18? (3 points)
Answer:
lmk when you get sumtn bro
Explanation:
i need the answer too
Vincent’s cost of serving all passengers demanding a tour on a typical day is $1350. Vincent’s profit on a typical day is $820. Vincent’s profit will be increased he charged every customer $18.
What is price discrimination?A selling tactic known as price discrimination involves charging clients various rates for the same good or service depending on what the vendor believes they can persuade the customer to accept.
When a merchant uses pure price discrimination, they charge each consumer the highest price they will agree to.
The calculation of the profit of the Vincent is done as follows
1.Number of the tour operated by the Vincent on a typical day=
= Adult demand + children demand + senior citizens demand/ Bus capacity
= 70+25+55/50
= 150/50
= 3
Total cost of the tour = $450*3
= $1350
2. Total Revenue on a typical day = Adult demand * willingness to pay+ Children demand* willingness to pay + senior demand * willingness to pay
= 70* $18 + 25* $10+ 55 * $12
= $2170
Profit = total revenue - total cost
= $2170 - $ 1350
= $820
If he charged every customer $18 with every customer then his profit will be calculated as follows:-
Total Revenue on particular day = Adult demand * $18 + Children's demand * $18 + senior's demand * $18
= 70 *18+25*18+55*18
= $1260+$450+$990
= $ 2700
Profit = Total Revenue - Total cost
= $ 2700 - $ 1350
= $ 1350
Therefore, the profit charged on the price $18 is $1350 which is greater than the previous profit.
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Imagine you work in a factory that produces several types of bicycles. A county bureaucrat delivers a report listing numbers, types, and prices of bicycles the factory should make for the upcoming season. Which kind of economic system is this most likely to be? Explain
The economic system depicted in this example is a Command Economy since the government determines the production decision.
What is a command economy?A command economy is an economic system in which the following characteristics are prevalent:
Means of production are publicly owned.Economic activity is controlled by a central authority.Quantitative production goals and raw materials are allotted.A command economy is different from a:
Market EconomyTraditional EconomyMixed Economy.Thus, the economic system depicted in this example is a Command Economy since the government determines the production decision.
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Hi-V produces three types of canned juice drinks, A, B, and C, using fresh strawberries, grapes, and apples. The daily supply is limited to 200 tons of strawberries, 90 tons of grapes, and 150 tons of apples. The cost per ton of strawberries, grapes, and apples is $210,$110, and $100, respectively. Each ton makes 1500lb of strawberry juice, 1200lb of grape juice, and 1000lb of apple juice. Drink A is a 1:1 mix of strawberry and apple juice. Drink B is 1:1:2 mix of strawberry, grape, and apple juice. Drink C is a 2:3 mix of grape and apple juice. All drinks are canned in 16 -oz ( 1lb) cans. The price per can is $1.15,$1.25, and $1.20 for drinks A, B, and C. Develop an LP model to determine the optimal production mix of the three drinks. (only the formulation is required)
The LP model aims to determine the optimal production mix of drinks A, B, and C using limited supplies of strawberries, grapes, and apples. The objective is to maximize profit while considering the cost of ingredients and the can price per drink.
Let:
x1 = number of cans of Drink A produced
x2 = number of cans of Drink B produced
x3 = number of cans of Drink C produced
The objective is to maximize the profit, which is given by the equation:
Maximize: 1.15x1 + 1.25x2 + 1.20x3
Subject to the following constraints:
Strawberry constraint: 1500lb * x1 + 1500lb * x2 <= 200 tons (converted to lb)
Grape constraint: 1200lb * x2 + 1200lb * x3 <= 90 tons (converted to lb)
Apple constraint: 1000lb * x1 + 1000lb * x2 + 1000lb * x3 <= 150 tons (converted to lb)
Non-negativity constraints:
x1 >= 0, x2 >= 0, x3 >= 0
The LP model aims to maximize the profit by determining the optimal values of x1, x2, and x3 while considering the constraints imposed by the availability of strawberries, grapes, and apples.
The objective function represents the total profit obtained from the production and sale of the drinks, and the constraints ensure that the ingredient usage does not exceed the available supply.
Non-negativity constraints ensure that the production quantities cannot be negative.
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A new supermarket is being built. The country has required the owner to designate at least eight handicap parking spaces. The county installed a sign in front of each space to indicate that it is reserved for vehicles with a proper sticker. The sign also announces a $250 fine for violators.
The intention behind the sign is to announce to the community at large that there will be a stiff penalty to pay for violating the rule. The belief is that drivers who risk a small fine by parking illegally elsewhere, such as against the curb, will not risk the large fine for parking illegally in the handicap spaces. This point of view is known as ____________.
Answer: General deterrence
Explanation:
Based on the information given, the point of view is known as general deterrence.
General deterrence is the effect of a threat regarding legal punishment on everyone in the society or the public at large. The aim of general deterrence is to send a message to the public and this is done by making them fearful of the consequences when they commit a particular crime. In this case, the fine of $250 is to make the public fearful of violation of the rule.
A homeowner takes out a $337,000, 20-year fixed-rate mortgage at a rate of 5.60 percent. What are the monthly mortgage payments? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Monthly payment $ ____
The monthly mortgage payment would be $2,331.23. If a homeowner takes out a $337,000, 20-year fixed-rate mortgage at a rate of 5.60 percent.
To calculate the monthly mortgage payments on a $337,000, 20-year fixed-rate mortgage at a rate of 5.60 percent, we can use the following formula:
M = P * (r / 12) * (1 + r / 12)^(n * 12) / [(1 + r / 12)^(n * 12) - 1]
where M is the monthly mortgage payment, P is the loan principal ($337,000), r is the annual interest rate (5.60%), and n is the number of years (20).
Plugging in these values, we get:
M = $337,000 * (0.056 / 12) * (1 + 0.056 / 12)^(20 * 12) / [(1 + 0.056 / 12)^(20 * 12) - 1]
M = $2,331.23
Therefore, the monthly mortgage payment would be $2,331.23.
It's important to note that this calculation assumes that the mortgage payments are made on a monthly basis, and that the interest rate amortization remains fixed for the entire 20-year term of the mortgage. In reality, the actual monthly payments may differ slightly due to factors such as taxes and insurance, and the interest rate may also vary over time if the mortgage has an adjustable rate feature.
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flesher farms is preparing its cash budget for the next year. sales are expected to be $100,000 in january, $200,000 in february, $300,000 in march, and $100,000 in april. approximately half of all sales are cash sales, and the other half are on credit. experience indicates that 70% of the credit sales will be collected in the month following the sale, 20% the month after that, and 10% in the third month after the sale. what are the budgeted collections for april?
The budgeted collections for April are $100,000.
Based on the information provided, we know that sales for April are expected to be $100,000. Since approximately half of all sales are cash sales, we can assume that $50,000 of the April sales will be collected in the same month.
For the credit sales, we know that 70% will be collected in the month following the sale. Therefore, 70% of the $50,000 credit sales from March will be collected in April, which is $35,000.
Next, we need to calculate the collections for the remaining 30% of the credit sales from March. 20% will be collected in the month after that, which is May. Therefore, 20% of the $50,000 credit sales from March will be collected in May, which is $10,000.
Finally, 10% of the credit sales from March will be collected in the third month after the sale, which is June. Therefore, 10% of the $50,000 credit sales from March will be collected in June, which is $5,000.
Adding up all the collections, we get:
$50,000 (cash sales) + $35,000 (70% of credit sales from March) + $10,000 (20% of credit sales from March) + $5,000 (10% of credit sales from March) = $100,000
Therefore, the budgeted collections for April are $100,000.
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OJT is best for large groups.
True
False
Scenario: Denise is 24 and living on her own. She has a job cleaning hotel rooms. She makes about $485 a week. Her monthly rent is $432. She has a car payment of $102 a month. She also has student loans from her community college with a payment of $85 a month. She has made some of her loan payments on time and missed some of her loan payments. She has two credit cards. One is maxed out with a credit limit of $5,000. The other card has a $2,800 limit with a balance of $1000.
Denise is considering going back to school to become an LPN which would double her income. The program costs $12,000. She qualified for a loan to cover the cost of the program. However, the loan will not cover living expenses while she’s in the program.
Calculate Denise's Total Monthly Income.
The monthly income of Denise after she decides to go back to school to become an LPN will be $3880.
What is monthly income?The amount of money earned or made by an individual under employment or engaged in business activities is known as the total monthly income of such individual.
Using the given information, it can be said that the salary of Denise will become $970 a week after she becomes an LPN. So, her monthly income will be 970 × 4 = $3880.
Hence, the monthly income of Denise after she becomes an LPN is aforementioned.
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which of the following is the correct word phrase of "4b+10"?
A. four added to 10
B. the product of four and B added to 10
C. the sum of 4 and B plus 10
D. the product of four and B subtracted to 10
a manufacturer reports the following information. direct materials $ 50 per unit direct labor $ 12 per unit variable overhead $ 6 per unit fixed overhead $ 2 per unit target markup 40 % compute the (a) total product cost per unit under absorption costing and (b) target selling price per unit under absorption costing.
The correct answers are: (a) Total product cost per unit under absorption costing: $70 per unit. (b) Target selling price per unit under absorption costing: $98 per unit.
To compute the total product cost per unit under absorption costing, we need to consider the direct materials, direct labor, variable overhead, and fixed overhead, as well as the target markup.
(a) Total product cost per unit under absorption costing:
Direct materials: $50 per unit
Direct labor: $12 per unit
Variable overhead: $6 per unit
Fixed overhead: $2 per unit
Total variable cost per unit:
Direct materials + Direct labor + Variable overhead = $50 + $12 + $6 = $68 per unit
Total cost per unit (including fixed overhead):
Total variable cost per unit + Fixed overhead = $68 + $2 = $70 per unit
(b) Target selling price per unit under absorption costing:
Target selling price is calculated by adding the target markup percentage to the total product cost per unit.
Target selling price per unit = Total product cost per unit × (1 + Target markup)
Target selling price per unit = $70 × (1 + 0.40) = $70 × 1.40 = $98 per unit
Therefore, the (a) total product cost per unit under absorption costing is $70, and (b) the target selling price per unit under absorption costing is $98.
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According to the textbook, the keys to successful supply chain management include trust and honest, accurate communications between supply chain partners.
True or False
The given statement, "According to the textbook, the keys to successful supply chain management include trust and honest, accurate communications between supply chain partners" is true because the keys to successful supply chain management include trust and honest, accurate communications between supply chain partners.
Trust and honest, accurate communications are fundamental elements in successful supply chain management. Here's a more detailed explanation:
Trust: Trust is the foundation of strong relationships and effective collaboration within a supply chain. When partners trust each other, they have confidence in each other's capabilities, intentions, and commitment to the shared goals of the supply chain. Trust fosters open communication, transparency, and a willingness to cooperate, leading to better coordination and problem-solving.Honest and accurate communications: Communication plays a crucial role in supply chain management. Honest and accurate communications involve sharing relevant information openly and transparently among supply chain partners. This includes sharing forecasts, inventory levels, production schedules, quality data, and any other critical information that impacts the supply chain's operations.Accurate communications are essential because incorrect or misleading information can lead to misalignment, delays, and inefficiencies within the supply chain. Accurate data and information help partners make accurate forecasts, plan production and inventory levels effectively, optimize transportation and logistics and anticipate and respond to changes in demand or supply.
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Mario is a skilled jet flyer that was recently hired by Meagan who is starting an airline business that allows travelers to travel to small cities at half the price of Delta Airlines flights. Which factor of production is Mario?
A . Entrepreneurship
B . Labor
C . Capital
D . Land
Answer:
B . Labor
Explanation:
Labor refers to human efforts or contribution to the production process. Human beings provide skills, knowledge, experience, energy, and time in making products or in the provisions of services. Human beings are compensated with salaries, wages, and other benefits in exchange for labor.
Marion will be employed as a pilot. Meagan requires the skills of a person to offer services to customers. Mario will be providing labor services.